Policy frameworks around electronic invoicing and CTC are being defined all over the world, including the Middle East region.
The reasons behind a growing interest in digitalization
The world’s governments continue to rely to a great extent on indirect taxes as a valuable source of revenue. This is evidently one of the biggest drivers behind the rise of e-invoicing CTC or continuous transaction controls models across the world, including in the Middle East. Furthermore, the global COVID-19 crisis has presented its share of challenges, providing at the same time an opportunity for organizations to evolve and embrace a new reality where digital processes triumph.
The order-to-cash and purchase-to-pay processes in the Middle East are heavily paper-based. This means businesses continue to use forms of communication not considered 100% digital, such as PDF or scanned images. As organizations pursue digitalization strategies, e-invoicing is considered to be a fundamental instrument for optimizing business processes.
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